When consumer goods are involved, a termination statement must be filed within a month after the debt is paid.

Name: When consumer goods are involved, a termination statement must be filed within a month after the debt is paid.
Brand: Quizplus
Rating: 4.9 (40 reviews)

Question

When consumer goods are involved, a termination statement must be filed within a month after the debt is paid.​

Quizplus · Accepted Answer

In many jurisdictions, when a debt secured by consumer goods is paid off, the secured party is required to file a termination statement within a specified period, often 30 days, to release the lien on the goods.

When Consumer Goods Are Involved, a Termination Statement Must Be